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Drewry’s World Container Index Records a 1.6% Decrease for the Week

In a latest update, Drewry’s composite World Container Index has reported a 1.6% decrease this week, bringing the cost of a 40-foot container down to $1,739.59. This information comes from Drewry’s Supply Chain Advisors and is based on their detailed assessment for Thursday, August 31, 2023.

This decline marks a significant change from the figures of the same week last year, with a staggering 69.3% drop. Moreover, the current index value is strikingly low compared to its peak in September 2021, when it reached $10,377, now standing at a mere 83% of that value. It’s also worth noting that the index is 35% lower than the 10-year average of $2,682, indicating a return to more typical pricing in the container shipping industry. However, it still remains 22% higher than the pre-pandemic rates of $1,420 in 2019.

For the year-to-date, the average composite index stands at $1,771 per 40-foot container, a significant $910 lower than the 10-year average mentioned earlier. These numbers reflect the evolving dynamics of the container shipping market.


In terms of specific routes, there have been notable changes in freight rates. The Shanghai – Rotterdam route saw a 4% decrease, amounting to a $73 drop, with rates now at $1,615 per 40-foot container. Rotterdam – Shanghai also experienced a 3% decline, equating to a $16 decrease, bringing rates to $516 per FEU (forty-foot equivalent unit). Similarly, rates from New York to Rotterdam decreased by 2%, or $19, settling at $757 per 40-foot container. On other routes like Shanghai – Genoa, Shanghai – Los Angeles, and Rotterdam – New York, there was a 1% decrease in rates, with values now at $2,038, $2,217, and $1,562 per 40-foot container, respectively. Notably, rates on the Los Angeles – Shanghai and Shanghai – New York routes remained stable compared to the previous week.

Drewry’s experts anticipate that East-West spot rates will remain relatively stable in the coming weeks, indicating a potential stabilization in the container shipping market.

Quoted Source: Drewry World Container Index, Drewry Supply Chain Advisors

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